Cape Verde: Selected Issues
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Summary:
This Selected Issues paper examines macroeconomic challenges for a highly tourism-based economy such as Cape Verde. The changing structure of Cape Verde’s balance-of-payments financing calls for a closer look at the volatility of remittances and their role as an absorber of economic shocks. The paper finds that compared with other external inflows, remittances continue to be a reliable source of foreign financing, but they are declining in importance. It also shows that this influence seems to be gradually fading, and remittances are becoming increasingly procyclical.
Series:
Country Report No. 2008/243
Subject:
English
Publication Date:
July 24, 2008
ISBN/ISSN:
9781451809480/1934-7685
Stock No:
1CPVEA2008003
Pages:
25
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